COVINGTON, KY – Clinical Trial & Consulting Services will be relocating their global headquarters to Covington, Kentucky.
Earlier this morning, Governor Matt Bevin made the announcement that the pharmaceutical and biotechnology organization confirmed its move into the RiverCenter Towers. This news comes from almost 10 months of collaboration between the following: Corporex Companies, LLC, Northern Kentucky Tri-Ed, Kenton County, Campbell County, Boone County, City of Covington, Kentucky Economic Development Cabinet, Northern Kentucky Convention Center, Catalytic Development Funding Corp. of Northern Kentucky, Northern Kentucky University and Gateway Community and Technical College.
On joining the Northern Kentucky region, CTI will become the largest private sector health sciences employer in Covington. Additionally, the organization will rank third for the largest office operations in Covington, behind Fidelity Investments and the Internal Revenue Service.
The organization’s move will have a large economic impact on Northern Kentucky providing the region with outstanding career opportunities. CTI estimates approximately 500 new Kentucky resident jobs to be filled by the end of 2027.
Mayor Sherry Carran stated, “We are thrilled over CTI’s announcement to locate its global headquarter operations to Covington. The collaboration between our three counties and the positive energy between our river cities around the Riverfront Commons Project highlighted a welcoming environment that appealed to CTI, a company that values community.
“Covington’s plans to improve our riverfront also enhanced the desirability of our location and of the RiverCenter, and it will be a great amenity for the employees of CTI,” Said Carran.
CTI selected Covington for several key factors including the RiverCenter Towers urban core location and the overall Northern Kentucky collaborative efforts amongst the city, county and state government officials, as well as community organization leaders.
CTI Founder and CEO Timothy J. Schroeder elaborated on the organization’s decision to make the move to Covington. He stated, “We are delighted to be locating our growing company’s headquarters to Covington, Kentucky. Our organization was amazed by the enthusiasm that Mayor Sherry Carran and her team exhibited throughout the process.
“We are looking forward to quickly becoming integrated into the community and making CTI a well-known and well respected partner. The local amenities including RiverCenter, the NKY Convention Center, and the Riverfront Commons will be important attributes in our retention and recruitment of CTI team members. It is a transformative time in the company’s history and we will look back positively on this decision and its impact on the company’s ability to continue to move life-changing therapies to patients around the world.”
The organization worked alongside Corporex Companies, LLC to secure the RiverCenter Towers location. The office space is 125,000 square feet and will allow future growth and expansion.
Corporex Companies, LLC CEO William P. Butler stated, "We appreciate the opportunity to partner in support of Mr. Schroeder's very dynamic company. CTI's move to the urban core follows a national trend and will be a benefit to the entire community.”
Catalytic Development Funding Corp. of Northern Kentucky CEO Jeanne Schroer shared her excitement when receiving the news and stated, “The Catalytic Fund is thrilled to welcome this exceptional and innovative company to our Northern Kentucky community. Our local and regional public and private sector entities work together every day to invest in assets such as quality housing, an inviting public realm, solid infrastructure, and excellent commercial spaces to support our corporate citizens’ success and growth.
“This public/private dedication to building community as well as Northern Kentucky’s excellent real estate fundamentals and exciting and diverse urban core make the area an outstanding place for businesses to thrive. We are honored to have CTI join us here.”
Additionally, both the Riverfront Commons Project and the Northern Kentucky Life Sciences Training Center were essential factors in CTI’s decision.
Understanding its employees’ wants, CTI was attracted to the Riverfront Commons Project knowing it would appeal to their current employees’ lifestyles and serve as a valuable recruitment tool for talented young professionals.
The Northern Kentucky Life Sciences Training Center, facilitated in the Northern Kentucky Convention Center, will serve as an integral partnership allowing CTI and other life science groups the opportunity to collaborate and grow their industries.
Bexion Pharmaceuticals, located in Covington, was enthusiastic to learn CTI would be joining the Northern Kentucky life science community.
Bexion Pharmaceuticals CEO Dr. Ray Takigiku stated, “Bexion is very excited to have a stellar organization like CTI join our life science community in Northern Kentucky. CTI’s veteran drug and medical device experts, and their growing global presence will accelerate the burgeoning entrepreneurial renaissance occurring in Covington, and will directly benefit our mission against cancer.”
CTI’s decision to move its headquarters to Covington reaffirms the City’s foresight to invest in its amenities is beginning to pay off.